My question is: what is the work-in-process inventory?

Problem 10-46 Direct-Material Variances; Journal Entries (Appendix) [LO 10-1, 10-3, 10-9) Rocky Mountain Camping Equipment, Inc., has established the following direct-material standards for its two products. Standard Quantity Standard Prion Standard camping tent 9 yards $3 .50 per yard Deluxe backpacking tent 4 yards $5.20 par yard During March, the company purchased 5,900 yards of tent fabric for its standard model at a cost of $22,420. The actual March production of the standard tent was 290 tents. and 2.5?0 yards of fabric were used. Also during March, the company purchased 2,900 yards of the same tent fabric for its deluxe backpacking tent at a cost of $14,500. The firm used 1,480 yards of the fabric during March in the production of 3W0 deluxe tents. Required: 1. Compute the direct-material purchase price variance and quantity variance for March. 2. Preparejournal entries to record the purchase of material, use of material, and incurrence of variances in March. Complete this quooon by ontorlng your amoral In the tabs below